BOE's Greene cautions UK wage growth could fuel persistent inflation
BOE's Megan Greene warns about persistent UK inflation and concerns over 3.5% wage growth next year.
1 h ago5 min read
Yields remain high, underpinning the dollar; French worries hit the euro
Yields held near 5.28% as the dollar firmed; the euro was hurt by French fiscal concerns, and most European stocks rose.
05/10/2026 12:327 min read
Market snapshot:
- At 5.277%, the 10-year Treasury yield was flat.
- The Australian dollar led the majors, while the euro and New Zealand dollar brought up the rear.
- Gold was 0.3% higher, trading at $4,153.
- Brent crude added 0.3%, reaching $102.60.
- Most European stocks gained ground; S&P 500 futures slid 0.1%.
- Bitcoin climbed 0.3%, to $86,099.
A new week has opened, but the narrative across markets is unchanged.
Friday's softer US jobs report gave stocks and bonds some relief. That follow-through has not built today, but the broader mood has not worsened either.
Bonds remain the main area to watch, and that is still leaving a sense of caution in place. The 10-year Treasury yield dropped to 5.16% following the jobs data on Friday, then quickly rebounded to 5.28%. At the start of this week, yields are staying around those levels, with the long end again threatening to push higher.
That backdrop is lending support to the dollar, and USD/JPY has moved back above 158.00, trading at 158.25. The euro, meanwhile, is among the weaker currencies as French fiscal worries come to the fore again, weighing on both the single currency and French equities. EUR/USD is 0.4% lower at 1.1205, after touching 1.1160 earlier - its weakest level in 17 months.
In equities, most European benchmarks are posting modest gains, with the CAC 40 the only one in negative territory. That weakness is largely tied to France's fiscal situation, with worries mounting about the country's debt outlook and uncertainty over politics before the presidential election next year. That index is currently down 0.5%.
US futures, meanwhile, remain tentative, with S&P 500 futures down 0.1% and Nasdaq futures also 0.1% lower.
Elsewhere, gold is edging slightly higher at $4,153 but continues to lack real upward conviction while staying below the $4,200 mark.
As the new week gets underway, it is still all about bonds, with investors figuring out the next step after last week's US jobs report.
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